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Corporate Moves: Vedanta Eyes Jaiprakash Power, Amber Group Secures Funding
Corporate Moves: Vedanta Eyes Jaiprakash Power, Amber Group Secures Funding
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BTCCSquare news:
Vedanta Ltd, the mining conglomerate led by Anil Agarwal, has emerged as the top bidder for debt-ridden Jaiprakash Associates Ltd (JAL) with a net present value bid of ₹12,505 crore. The deal could grant Vedanta a 24% stake in Jaiprakash Power Ventures Ltd (JPVL), signaling a potential hostile takeover as the company seeks full control of the profitable power unit.
Meanwhile, LJIN Electronics India Pvt Ltd, a subsidiary of Amber Group, has secured ₹1,200 crore in strategic funding. Private equity firm ChrysCapital committed ₹1,100 crore, while InCred Growth Partners Fund I invested ₹100 crore. The transaction, structured through equity and compulsory convertible preference shares, awaits regulatory approval.
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